H.R. 5240
Referred to CommitteeTo amend the Internal Revenue Code of 1986 to make the look-thru rule for related controlled foreign corporations permanent.
Introduced 11/21/2019•116th Congress•House
Latest Action
Referred to the House Committee on Ways and Means.
11/21/2019 • House
Summary
This bill amends the Internal Revenue Code to make permanent the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income (thus permitting tax deferral of such income).
Introduced in House • 11/21/2019
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Topics & Subjects
Policy Area: Taxation
Foreign and international corporationsIncome tax deferralTaxation of foreign incomeU.S. and foreign investments
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Related Federal Spending
Sponsor & Cosponsors (15)
Party Breakdown
7
Democrats
8
Republicans
0
Independents
Sponsor
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Cosponsors (14)
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Bill Journey
Originated in the House
Introduced
November 21, 2019
Referred to the House Committee on Ways and Means.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Introduced in House11/21/2019